Wall Street Celebrates Strong Inflation Report: Dow, S&P 500 Surge To 2-Month Highs

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Equities rallied to their strongest levels in months Tuesday after the latest monthly inflation report revealed lower price increases than anticipated...

Article originally published by Forbes. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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16 Nov 2023

Equities rallied to their strongest levels in months Tuesday after the latest monthly inflation report revealed lower price increases than anticipated, as investors continue to bet on hopes that the worst effects of inflation-related monetary policy tightening are in the rearview mirror.

Consumer prices in October were flat month-over-month for the first time since July 2022, while core inflation fell to its lowest annual level since September 2021, the Labor Department reported Tuesday, offering further evidence inflation is steadily improving.

Stock indexes surged following the price data’s release, as the Dow Jones Industrial Average, S&P 500 and tech-heavy Nasdaq each jumped 1.3% or more in morning trading.

“The rally was due to rising investor belief that the Federal Reserve will now be less likely to hike interest rates at future meetings,” Sam Millette, Commonwealth Financial Network’s head